Optimism will unlock tokens worth $30 million on 30 September. OP, staying true to history, started favoring the sellers in anticipation.
, the token’s altrank dropped substantially, which was a bearish signal. More such signals were revealed upon checking the blockchain’s metrics at press time.
For instance, the token’s MVRV ratio dropped substantially over the last week, alongside its 1-week price. The token’s 1-week price volatility also took a southward turn, which was in the sellers’ favor.In addition to the above metrics, OP’s MACD displayed a bearish crossover as well, further increasing the chances of a future southbound price movement. Additionally, the Money Flow Index also declined.
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